4chan meme pays respects to Kyle Rittenhouse, the 17 year old volunteer who shot three felons in Kenosha, and the late Chadwick Boseman, who played the eponymous lead role in the movie Black Panther. In our post last week (“Kenosha Chaos And The NPC Economy“) we mentioned our Twitter correspondent Second City Bureaucrat’s excellent description of the violence wreaking American cities this summer: “Occupy Main Street”.
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Occupy Main Street Meets Resistance
Unlike Occupy Wall Street, which (impotently, as it turned out) targeted America's largest banks,
Reminder that this is why they pivoted the left away from economic justice to attacking local police unions and pandering to ethnonarcissism. https://t.co/ImsomgNMqY
— Second City Bureaucrat (@CityBureaucrat) August 24, 2020
Occupy Main Street has destroyed American small businesses.
We have to eradicate local autonomy so we can set up local autonomous zones like the chaz
— Second City Bureaucrat (@CityBureaucrat) August 26, 2020
Occupy Main Street ran into resistance in Kenosha last Thursday, in the person of Kyle Rittenhouse, who was apparently attacked by rioters while defending local businesses.
Rioters Not Sending Their Best
In an amazing coincidence, each of the rioters who attacked Rittenhouse, was a criminal. Joseph Rosenbaum, was a convicted sex offender,
Screen capture via Bail Bonds HQ.
Anthony M. Huber had convictions for "strangulation and suffocation" and "false imprisonment".
The third rioter shot by Rittenhouse, Gaige P. Grosskreutz,has an arrest record for felony burglary. Unlike the other two, Grosskruetz survived. Rittenhouse hit Grosskruetz in his arm as Grosskruetz was apparently about to shoot him, as you can see in the video embedded in the tweet below.
Here’s the moment where Kyle Rittenhouse shoots an Antifa in the arm, who was running at him with a gun.
You can see how the shot perfectly made the gun unusable, by causing the Antifa’s arm to go limp. pic.twitter.com/FGFpfekhlb
— Willis Krumholz (@WillKrumholz) August 28, 2020
Trump Gets Asked About The Kenosha Kid
In his press conference on Monday, a reporter asked President Trump about his supporters firing paint balls in Portland on Saturday. Trump responded by noting that one of his supporters was shot and killed in Portland that night. Next, another reporter asked Trump if he would condemn Kyle Rittenhouse. Trump declined to condemn him, pointing out that Rittenhouse appeared to have acted in self defense.
Reporter asks Trump to denounce his supporters who fired paint balls in Portland on the same night one of Trump’s supporters was murdered. pic.twitter.com/kiW53MHsnT
— David Pinsen (@dpinsen) August 31, 2020
Kenosha As A Pivot Point
Kenosha, in particular the actions of Kyle Rittenhouse, appears to have been a pivot point in Occupy Main Street. The media and Biden supporters seem to have gone from downplaying the riots ("mostly peaceful protests") to lamenting that the rioters are helping Trump. Joe Biden gave a speech on Monday intimating that the rioting will get worse if Trump wins reelection. The latest national poll on Monday, Emerson's survey of likely voters, showed Biden's lead shrinking to 2 points, which was within the poll's 2.4% margin of error. Perhaps Democratic governors and mayors will attempt to rein in the rioters now. We'll see.
Investing During Occupy Main Street
In my previous post, I described my system's approach to investing during the chaos:
COVID lockdowns, riots, and looting are wrecking business districts while Americans shoot each other in the streets. How should you incorporate that into your investing framework? Portfolio Armor doesn't incorporate it at all, at least not directly. Instead, we look for names that have been going up, and that options market sentiment suggests have more room to run over the next six months.
We use our analysis of total returns and options market sentiment to select our top ten names each trading day.
And offered an example of the top names the system selected a month previously:
A month ago, these were our top ten names, as we shared in a post at the time (An Inauspicious Signal).
Our top names as of Monday, July 27th.
Here I'd like to offer a quick update and a clarification. First, the clarification.
The "Armor" Is The Hedging
A reader of last week's post wondered where the "armor" was in buying stocks like Tesla in late July. By itself, there was no armor in that; the armor was in the hedging. I demonstrated a way of hedging that stock using our iPhone app last month.
Our Top Names Update Daily
Of the top ten names I posted here on July 27th, only four were on our top ten as of August 31st. Here's how the top names from July 27th had performed as of August 31st.